Member Info for JONNO100

Speedy
Thank you for all your tireless updates .Very much appreciated Jonno

Paddy
So sorry to hear your sad news.My deepest condolences to you and your family.I know it has been hard for you in these restrictive times to see as much of your father as you would have wished.I remember you putting it in one of your posts
The memories of the times you spent as a family and of times you spent together will be so poignant and also be a lasting tribute to your relationship with your father
I recall 2 great lines from a Celtic song
“The love you leave,will be there after you’ve gone”
There are so many on this board who owe you a debt of gratitude and their respect for you is reflected by the number of kind and supportive messages
Do take care and come back only when you feel the time is right for you

Redirons 17.18
Very nicely and succinctly put

It wasn’t just the height that interest rates moved to,it was the rate at which they got to those heights that was frightening too.Agreed a third of the nineties rise would have a lot of people in trouble especially if house prices fall after the stamp duty holiday ends

Agreed
Would appreciate feedback thank you

Thank you Paddy for all the information/research that you provide tirelessly and freely,your total objectivity,and above all your common decency/honesty
and maturity.At times,on this board ,they are rarities.

Gervaise’s tweet timing may be to reassure LTH that they shouldn’t feel that they have to take small profits if the SP does go up a little today ,as well as general reassurance that nothing has changed ,even if the share price goes down.
He is was an excellent hand on the tiller when he was CEO and now. an excellent guiding wise man

Speedie
An excellent idea ,I would love one too ,Thank you

I'm really not sure how many people understand the economic disaster that the world is facing .In my view as I have said before -world debt is horrendous - a couple of trillion dollar QE is not going to make a dent in that .The massive personal debt is different -not borrowings to invest ,make profits and payback debt but for survival,food,rent, mortgages and then for some who cant afford them ,pandemic rebound holidays/cars etc .unemployment hasnt really shown its ugly head -YET .In this country the NHS is on its knees -staff are drained, some will leave , mental health in the nhs staff and population at large hasnt surfaced .people who perhaps could afford to spend -wont -fearful of the future -UK for example is a consumer society - if people choose to re-evaluate their lives and not spend on things that arent essential then the economy is in big trouble -you can have as much QE as you like but if people dont spend it and banks wont lend to those they consider to be bad risks then the economy wont recover - it is a case of when will gold price rise not if - that is the key question and with china /russia etc buying a lot -economic battles on ahuge front could happen -and fear is a great incentive to buy gold

ARB and block chain may have something to do with movement of money out of here ?

The initial results at Havieron -were amazing partly through excellent research and surveying by GGP and partly good fortune .The next 4 results from scally may not be "amazing " in the terms of hitting a jackpot but if they add to the information contributing to the discovery of a significant ore body by adding to the knowledge of where that ore body might be and the direction that drilling should go then at this stage that would be a significant positive .Whether the SP will reflects that is another matter

Speedy
Thanks for your reply.We are in interesting times

Gold down to $ 1792
Is this the expected fall or will it need to go lower for closing shorts

Doggy100
I think gold will rise but chiefly because of uncertainty.- but I do worry that we will see deflation not inflation.World debt is huge compare to QE . The debt is what I call non productive borrowing/debt - ie for many it is for basics food/heating/rent ,then for some cars/holidays - it is not for businesses to invest /make something and then pay off that debt-the type of debt has changed .The problem with this is that most people cant borrow they are at their limits ,and banks wont lend so no liquidity, which means QE ineffective.Even if people are given money directly I dont know how many will spend ( we are a consumer economy) and how many will save - .Next there is mass psychology -you lose your job /or family members do/or you are not allowed to work - and you live in fear of losing yours - what do you do -help family and save,for fear of the future and recurrent lock downs -the fear of virus mutation - (it is an RNA virus which mutate much more than DNA viruses ).I have always maintained that there are 5 things that you need in a survival situation -oxygen ,water/shelter/food/health - The last has been hit hard but the legacy of that hit means that both peoples mental and physical health and the resources to help both have been hit hard. I fear we wont appreciate that impact yet and we certainly havent seen anything like the number of employment losses and business failures to come .A lot invested here are the fortunate ones ,not all but alot who write on this board live in a different world to most .
I am bullish on gold but I dont want to be a blind bull.These are frightening times for many and I am sure there are a lot more economic twists and turns to come

Speedy -Does the delay to implementing Basle111 till 2023 mean that the gold price correction will be delayed or are there other factors in play that will mean that the correction delay will be relatively unaffected.In other words how significant is this Basle111 delay.Thanks in advance

Speedy
Thank you for taking trouble to update us.It is kind of you to give the benefit of your expertise.I have just finished reading Jim Rickards latest book published 12.1.21 The Great Depression -It makes sobering reading.From just the medical point of view,not just short term but very long term there are some big problems ahead ..General mental health and long Covid to name 2,but within the NHS apart from these,A mental /physical health tsunami in frontline staff and an ever increasing backlog in hospital care
Thank you once again for the update and stay safe JONNO

Overall you could say Havieron has been quite a co o/u p!

Droverman
Was that the alleged Wuhan (of covid fame ) gold fraud or a different one ?

I can’t agree that inflation /hyperinflation will be the result in due course .Most posters here live (understandably) in a different world financially to the majority.They have money to invest..People are losing jobs and many were living on credit(for the basics) before the pandemic...Those that are losing their jobs are in a lot of cases the most vunerable.The health physical and mental of populations is going to be affected for years.I reallydon’t think a lot of people are appreciating the chronicity of the damage that this pandemic will do to the ability of the nhs to even get back to where it was prior to the pandemic
Population psychology will play a huge role in a consumer spending population and the initial desire to ensure real basics are in place for people and their families/extended families will be rightly overiding..Fear for the future will dissuade people from spending and I think this will be generational.
Price of gold may increase due to less manipulation eventually and due to conditions that may lead to deflation or inflation but I don’t think inflation is guaranteed
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Very interesting and simply explained -thank you